Case Details
Case Name: CP/127(KB)2021
Parties: Registrar of Companies, West Bengal (Petitioner) vs Multinational Tour & Travels Limited (Respondent)
Court/Authority: National Company Law Tribunal (NCLT)
Case Number: CP/127(KB)2021
Date of Pronouncement: 22nd May, 2026
Period of Violation: Since Financial Year 2011-2012
Parties Involved
Petitioner: The Registrar of Companies, West Bengal, Ministry of Corporate Affairs
Respondent: Multinational Tour & Travels Limited, incorporated under Companies Act, 1956
Issues / Allegations / Violations
The Ministry of Corporate Affairs directed inspection of the company vide F.No.3/540/217/CL-II(ER) dated 26.03.2019. The investigation revealed multiple violations:
- Unlawful collection of money from public under guise of Tour Package schemes
- Default in repayment to investors
- Filing of false information through e-forms
- False averments made in company brochures
- Registered office found closed during investigation
- Directors failed to appear for interrogation
- Auditors of the company were deceased
- Failure to file statutory returns (Annual Return and Financial Statements) since Financial Year 2011-2012
Specific contraventions of Companies Act provisions:
- Section 12 of Companies Act, 2013
- Section 58A of Companies Act, 1956 (Acceptance of deposits)
- Section 74 of Companies Act, 2013 (Repayment of deposits)
- Section 159 of Companies Act, 1956 / Section 92 of Companies Act, 2013 (Annual return)
- Section 220 of Companies Act, 1956 / Section 137 of Companies Act, 2013 (Filing of financial statements)
- Section 78 of Companies Act, 2013 (Registration of charges)
- Section 128 of Companies Act, 2013 (Books of account)
- Section 217(6) read with Section 217(8) of Companies Act, 2013 (Fraud reporting)
Findings & Observations
The investigation concluded that the company's affairs were conducted in a fraudulent manner with mala fide motive to collect funds from public illegally. The company filed several documents with ROC containing false information. The affairs were conducted in a manner prejudicial to public interest.
Penalties / Settlements / Directions
The NCLT ordered:
- Winding up of Multinational Tour & Travels Limited under provisions of Companies Act, 2013
- Official Liquidator attached with Hon'ble High Court at Calcutta appointed as Company Liquidator
- Liquidation order deemed as notice of discharge to officers, employees, and workmen of the company
- All legal proceedings against the company require leave of the Tribunal
Corrective Actions & Future Obligations
The Company Liquidator is directed to:
- File declaration in Form WIN 10 within 7 days disclosing conflict of interest
- Take custody of all properties, actions and actionable claims of the company
- Preserve and protect company properties
- Examine Statement of Affairs
- Recover company property, cash, and assets
- Review audit reports and accounts
- Sell company assets
- Finalize list of creditors and contributories
- Compromise, abandon and settle claims
- Pay dividends if any
- File provisional list of contributories within 21 days
- Submit report in Form 16 within 60 days
- File periodical reports to the Tribunal
- Establish Advisory Committee as per section 287
Final Ruling & Enforcement
The Tribunal admitted the company petition and ordered winding up of Multinational Tour & Travels Limited. The Registry was directed to intimate the Company Liquidator and Registrar of Companies, West Bengal. The Registrar shall make endorsement and notify in Official Gazette. The matter is listed next on 7th August, 2026 for filing of periodical report. Copy of order to be sent to all parties within 7 days through email and registered post.